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RESA Power, a specialist in power systems electrical testing, transformer services and life extension solutions for power distribution equipment, and a portfolio company of Investcorp, has acquired Advanced Electrical Services, Ltd.
RESA Power was acquired by Investcorp in December 2021 and this deal marks the first add-on acquisition under the alternative investment firm’s ownership.
Advanced Electrical Services (AES) is a NETA accredited company that has two locations in Calgary and Edmonton from which it has been providing electrical testing services since 2008 throughout Western Canada. AES specialises in providing medium and high-voltage services and products into the renewable energy, mining,
Highview Capital (Highview), a Los Angeles-based middle-market private equity firm, has promoted Victor Bunce to vice president and added three additional professionals tom its team. Krysty Penwell and Scott Kingsley have joined as vice presidents and Christian Boorom has joined as an associate.
Bunce joined Highview in July 2020 and works across a variety of existing portfolio companies including GS Foods, Randall Foods and Watterson. He also currently serves on the Board of Directors of Watterson. Prior to joining Highview, Victor worked at Harris Williams, a middle market investment bank.
Penwell is a vice president on Highview’s business development team. She
Graphite Capital, a UK mid-market private equity specialist, has sold YSC Consulting, an independent global provider of leadership strategy consulting and advisory services, to a global professional services company.
Graphite led the buy-out of YSC Consulting in 2017 and has worked closely with the management team to transform the business. Under Graphite’s ownership YSC expanded its client base, broadened its range of services and strengthened its international presence. It strategically repositioned its services towards the C-Suite and established a dedicated private equity practice, currently serving over 40 global private equity funds.
Graphite also invested in and supported YSC
Fitch Ratings has published an update to its “Private Equity Collateralised Fund Obligations (PE CFO) Rating Criteria”, which outlines the agency’s methodology for analysing credit risk in securitisations backed by alternative investment funds.
This report updates and replaces the prior criteria reported titled “Private Equity Collateralized Fund Obligations (PE CFO) Rating Criteria” dated 4 December, 2020. The changes will not have an impact on any PE CFO ratings.
In the new criteria, the specific loan-to-value (LTV) limit of 50% for investment grade ratings has been removed. Fitch will continue to assess the appropriate level of credit enhancement for each transaction
Financial Venture Studio, a venture capital fund focused on early-stage fintech startups in the US, has held the final close of its second fund with approximately $40 million in commitments from an array of institutional investors, including banks and insurance companies, as well as pension funds, and global fund-of-funds.
CBRE Investment Management (CBRE IM) is to take full ownership of Norwegian ferry and express boat operator Norled AS, after agreeing to acquire CapMan Infra’s holding in the business.
Balderton Capital has appointed Elodie Broad, an experienced leader in corporate sustainability and sustainable finance, as its first head of impact and sustainable future goals (SFGs).
The appointment follows the publication of Balderton’s inaugural SFG report in December 2021. The report introduced Balderton’s ten SFGs – which were modelled on and inspired by the UN SDGs – to capture the firm’s imperatives and ambitions across a range of sustainability-related topics including climate change, gender equality, and economic integration. The report provided an initial OKRs (Objectives & Key Results) assessment along Balderton’s three impact axes: its internal operations, its investment decision
Apex Group, a global financial services provider, has expanded its Global Compliance Solutions offering designed for the Singapore market, which is led by newly appointed Stefan Ho, head of compliance solutions, Singapore.
Apex Group’s expanded Global Compliance Solutions team provides clients with tech-enabled compliance and AML solutions to meet their operational and regulatory obligations across international financial hubs. This single-source solution delivers efficiency, simplifies compliance and enables business opportunities from regulatory licensing support through to ongoing compliance advisory for existing and future regulatory requirements.
The launch of Compliance Solutions in the Singapore market will help to address clients’ risks
Business development and investor relations professionals at private funds are spending one quarter of their working weeks on unplanned interactions with limited partners (LPs), according to new research by Backstop Solutions.
The cloud-based productivity suite provider’s 2022 Alternative Investment Manager Productivity Survey of Investor Relations and Business Development Professionals highlights how unpredictable days and non-core tasks are impacting BD and IR professionals who are already strapped for time.
The study surveyed 103 BD/IR professionals from alternative asset management firms conducted from May 29 to June 29, 2022, with respondents coming from key segments such as private equity, hedge funds, venture
Liberty Street Advisors’ Private Shares Fund has increased assets under management to more than $1 billion. The Fund seeks capital appreciation by investing in the equity securities of private, operating, late-stage, growth companies.
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